If you thought the TTC was feeling a little, let’s say close, in 2011, you weren’t imagining things.

The TTC was packing them in last year with 500 million rides — 13 million more than transit officials expected, resulting in a $22 million surplus, according to the system’s consolidated 2011 financial statements.

In part, that’s because a fare hike failed to result in as many lost riders as transit officials expected, said TTC chief financial and administration officer Vince Rodo.

TTC surpluses are generally added back into the city’s coffers. So the 2011 operating subsidy from the city, budgeted at $544.9 million last year, was actually only $523.4 million.

“If we had known we were going to have 500 million riders, we would have set our schedules to carry 500 million people. We didn’t do that so it was overcrowded. When it’s overcrowded you’re really cramming people on there, and we didn’t have the (extra) service until September. Because for a large part of the year it was crammed on, you got a lot more revenue without a lot more cost,” Rodo said.

To accommodate growth in ridership, the TTC boosted its service levels in September. As the ridership increases continued through the fall, transit officials budgeted for 503 million rides in 2012 — 507 million at the outside.

But the TTC is exceeding those projections, too. The system is on track to deliver about 512 million rides this year.

The TTC has budgeted for the increased cost of wages and benefits for its 10,000 unionized staff. An arbitrator ruled that the Amalgamated Transit Union Local 113 members will receive 2 per cent raises in each year of a three-year contract. TTC staff are recommending that non-unionized employees get the same deal.

That’s expected to cost $17.8 million for 2011, $36.9 million this year and $64.2 million next year, according to a report before transit commissioners on Friday.

More on thestar.com

We value respectful and thoughtful discussion. Readers are encouraged to flag comments that fail to meet the standards outlined in our
Community Code of Conduct.
For further information, including our legal guidelines, please see our full website
Terms and Conditions.